Technical Analysis: Stoxx Europe 600 Personnal & Household Goods Net Return Index: The dynamic resumes towards historical highs

europa parlamento 2

Technical Commentary : The  Stoxx  Europe  600  Personnal  &  Household  Goods  Net  Return  is  an  index  composed  of  30  different  stocks  among  the european  Personnal  &  Household  Goods  sector.……. 

Day By Day – Indipendent Research

This  index  evolves  in  a  bullish  trend,  materialized  by  the  succession  of ascending troughs and peaks and confirmed by the 200-day moving average orientation. Despite the recent consolidation phase, no significant trough has been breached and  therefore  the dynamic  remains bullish  for  the weeks  to come. We are bullish over the medium term.


Anticipation :  

In the shorter term, the consolidation initiated following the inscription of a new historical high at 513.50 points was stopped by the 476.10  points  support.  This  level  is  important:  it  corresponds  to  the  50%  retracement  ratio  of  the  last  bullish  impulse,  now strengthened by the ascending 200-day moving average. Prices then formed a base (progressive reversal pattern) above this key level. A bullish breakout would thus allow the index to resume its dynamic towards historical highs.

We are  therefore bullish over  the short  term  too and expect prices  to  join  the 513.50  resistance  in  the near  future. We set  the invalidation  threshold  of  this  scenario  slightly  below  the  476.10  support.  The  breach  of  this  level  would  delay  any  bullish anticipation.

Close price 486,59

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 492,2 / 500,65 pts
Supports 476,1 / 465,8 pts

Follow-up Analysys: On  October  15th  we  recommended  the purchase  of  the DAX  30  index.  Since  then, prices bounced as expected and reached our target at 7442.50 points.


This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.

Source: ETFWorld – Day By Day – Indipendent Research



Artículos similares

Technical Analysis: Stoxx Europe 600 Real Estate index : Clearing of the 2011 highs


Technical Analysis: Stoxx Europe 600 Insurance index: bullish breakout of the triangle


Technical Analysis: MSCI EM Asia index: towards March 2012 highs